SOURCE: Industrial Info Resources

Industrial Info Resources

February 17, 2010 10:07 ET

Obama Administration Commits $8 Billion in Loan Guarantees to Georgia Power's Vogtle Units 3 and 4, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 17, 2010) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- On Tuesday, President Obama announced $8.3 billion in federal loan guarantees to help Georgia Power (Atlanta, Georgia) build a two-unit, 2,200-megawatt nuclear power plant in Burke County, Georgia. The facility, Plant Vogtle units 3 and 4, will be built on the existing site that hosts Vogtle units 1 and 2. Georgia Power is the largest subsidiary of the Southern Company (NYSE:SO) (Atlanta). This will be the first U.S. nuclear plant to start construction in three decades. The new two-unit facility is expected to cost $14 billion to build.

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